NRE Account - Open NRE Savings Account in India at HDFC Bank (2024)

FAQs

Can I open HDFC NRI account from USA? ›

You can open NRI Account for Indians staying in America with HDFC Bank. Make the most of the features and benefits offered through our simple and smarter banking solutions. Effortless and seamless repatriation of funds to your country of residence through our NRE Account.

You can, but this is tricky. Non-resident accounts are only available to Non-Resident Indians (NRIs), Persons of Indian Origin (PIOs) and Overseas Citizens of India (OCIs). If you don't fall into any of these categories, you'll need to be living in India before you can open an account.

To open an NRE or NRO account online, you can go to the HDFC Bank website and fill in the HDFC bank NRE/NRO Account opening application form. Then a bank representative will call you to assist further on the account opening process.

HDFC NRI account benefits

Interest earned on NRE accounts can be tax-free in India. HDFC has a low minimum balance requirements. Remitting money can be easy with HDFC remit options. HDFC has an easy process for converting your regular account in India to a NRI account.

NRE Account - Open NRE Savings Account Online

An HDFC Bank NRE Savings Account is an ideal solution for such a situation. An HDFC Bank NRE Savings Account lets non-residents deposit their foreign income in rupee denomination in a bank in India.

ICICI Bank NRI Services launch 'Online Paperless Account Opening Process' - a first- of-its-kind facility for NRIs and PIOs in the US. Account can be opened in a single web session using a complete online process. 3) Request for documents pick up*.

Ans.: Yes, there is no prohibition to open and maintain multiple accounts a/cs. 3. Can an NRI open joint accounts with one or more NRIs ? Ans.: Yes.

Can I deposit cash USD in my NRE account in India? ›

An NRE Account or Non-Resident External Account offers you this facility. Here, your money is converted into Indian Rupee or INR at the time of deposit. This means that you can deposit money in any foreign denomination, e.g. US Dollar and withdraw it in Indian Rupees.

NRE accounts are exempt from tax. Neither the balance, nor the interest earned on these accounts is taxable. The interest earned on an NRO account is however taxable at 30% according to the Income Tax Act 1961. The principle amount in an NRE account, and the interest accumulated thereon is open to repatriation.

If all the information in the NRI application form is correct, your NRI account will be opened within 5 to 7 working days of receiving the form.

Easy transferability: NRE funds are freely repatriable and can be to any account including resident account.

No, you cannot convert your existing Resident Indian Savings Bank account into NRE / NRO account. However, you can re-designate your existing account into NRO account. NRE account has to be opened afresh and it can be opened with your KYC Documents like your Passport, Visa etc.

Ans.: Yes.An NRI Can also open accounts from abroad by sending duly filled and signed AOF duly attested by Indian Consulate along with attested copies of passport and Visa, etc.

Non-Resident Indians (NRIs), Persons of Indian Origin (PIOs) and Overseas Citizens of India (OCIs) can open Indian bank accounts without being resident in the country. However, if you're not a resident of India and you don't fall into one of these categories you may struggle to open an account with a bank.

No, HDFC Bank does not have physical branch in US. However, they have dedicated NRI services where users residing in USA can open NRI bank account and avail host of NRI services via HDFC's smart banking services.